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Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2863
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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bank levy bankruptcy. slow pay motion and tn state exempti

Customer Question

bank levy bankruptcy. slow pay motion and tn state exemptions
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 5 years ago.

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

what is your question about bankruptcy? Thanks

Customer :

hi,i am from state Tennessee
i have bank levy garnishment on my bank account. the bank sent me a mail saying my fund held as required by law.i had a judgment five years ago. what shall i do either any exemption in tn i can file in court.?

Customer :

is there any exemption in tn?

Terry L. :

So, for the hearing, you can use your exemptions. Here is a list of TN exemptions for you. http://www.bankruptcyinformation.com/tn_exemp.htm

Terry L. :

You would use your "Wildcard" exemption.

Terry L. :

Bankruptcy will stop this proceeding, since the debt would usually be discharged in the bankruptcy case if you are considering filing. The bank will lift the levy once you go to court to apply your exemption. If you have more in the account than your exemption, then they can keep that for the creditor however.

Terry L. :

Thanks for your question, good luck.

Customer :

sorry i couldn't see your respond until now. how do i do that and what is the requirement to apply for exemption ?

Customer :
T ch. 787, § 1.C.A. § 26-2-103. $10,000 Wildcard Exemption - Jim Moore - Knoxville Bankruptcy Lawyer - 1/18/11
26-2-103. Personal property selectively exempt from seizure. —

Personal property to the aggregate value of ten thousand dollars ($10,000) debtor's equity interest shall be exempt from execution, seizure or attachment in the hands or possession of any person who is a bona fide citizen permanently residing in Tennessee, and such person shall be entitled to this exemption without regard to the debtor's vocation or pursuit or to the ownership of the debtor's abode. Such person may select for exemption the items of the owned and possessed personal property, including money and funds on deposit with a bank or other financial institution, up to the aggregate value of ten thousand dollars ($10,000) debtor's equity interest.

[Acts 1978, ch. 915, § 3; 1980, ch. 919, § 2; T.C.A., § 26-202, T.C.A., § 26-2-102; Acts 2010,.
Customer :

26-2-114 - Procedure for exercising exemption Notice.

26-2-114. Procedure for exercising exemption Notice.
(a) Should a bona fide citizen permanently residing in Tennessee become a judgment debtor, such debtor must exercise the exemption as provided in § 26-2-103 by filing a list of all the items owned, constructive or actual, which the judgment debtor chooses to declare as exempt, together with the value of each such item. Such listing shall be on oath and filed with the court having jurisdiction. Furthermore, the judgment debtor may modify or amend the listing from time to time as the individual deems necessary.
(b) Such claim for exemption by way of listing, modification or amendment thereto may be filed either before or after the judgment in the case has become final and shall have effect as to any execution issued after the date such claim for exemption is filed. However, subject to such exemption as is further set forth herein, a claim for exemption filed after the judgment has become final will have no effect as to an execution which is issued prior to the date the claim for exemption is filed, and as to such preexisting execution the claim for exemption shall be deemed waived.
(c) It is the duty of the clerk of the court from which process is issued to cause to be stapled to, printed upon or otherwise securely affixed to the warrant, summons or other leading process in the action a typed or printed notice which shall read as follows:
Click to view form.
Customer :

so please help me understand how it work. here is the history of this debt.

Customer :

1) i had judgment on 30/1/2007 from

Customer :

2) i filed for exemption on before the judjment become final on

Terry L. :

Unfortunately, this forum prohibits giving you specific legal advice - and applying exemptions falls into that category. You should meet with a local attorney to review how to use your exemptions.

Customer :

sorry let me make it clear for u. i had judgment on 1/30/2007. i filed for exemption on 1/23/2007. i got bank levy garnishment on 10/17/2011.so do u think based on i sent you the above law do u think i can modified it? or ask for exemption? since they already levy on my account. i am worry they may tell me it is too late since they already freeze the money.let say i am qualified for exemption is there any other reason the judge may refuse to honer my exemption? i had only 6500.in by bank . i don't have car, furniture, i don't have any property, other than 6500 dollar. i save this money to use for my health cause i have some medical problem.i don't want to be home less. please see the above article i sent u TCA 26-2-114 will that stop me from exemption? thank u

Terry L. :

do you have any other bankruptcy questions?

Terry L. :

you can always try to request your exemption, sure

Terry L. :

you need to appear at the court hearing to ask the court to allow you your exemption

Terry L. :

if you have any other questions, let me know

Customer :

i am here waiting ur respond

Terry L. :

you can always try to request your exemption, sure

11:35 AM

you need to appear at the court hearing to ask the court to allow you your exemption

11:49 AM

if you have any other questions, let me know

Terry L. :

do you have any other questions?

Terry L. :

You can use your exemption to protect the assets. bring your bank acct info to court along with the exemption citation you wish to use.

Terry L. :

The court will then rule as to if it will be allowed.

Terry L. :

are you there?

Terry L. :

if you have any more questions, let me know